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Government’s Property Strategy Delivering for Taxpayers

DC 5/18

The Hon David Coleman MPAssistant Minister for Finance

2 May 2018

The Government’s strong progress in increasing the efficiency of Commonwealth property is highlighted in the latest Australian Government Occupancy Report released by Assistant Minister for Finance, the Hon David Coleman MP.

Since 2014, the Government has reduced its overall rental property footprint by more than 9%. In the same period, the number of occupied work-points has increased by almost 4%.

This improved utilisation of space has meant that median occupational density has dropped by 14%. In 2014 the median occupational density was 20.7 square metres, in 2017 it was 17.8 square metres.

The increased efficiency of the portfolio has led to direct benefits to taxpayers.

Savings in lease costs are expected to exceed $100 million over four years. In addition the divestment strategy has delivered in excess of $128 million with the sale of properties in the Parliamentary Triangle alone.

Operation Tetris has successfully filled close to 70,000 square metres of office space that was previously rented by the Commonwealth but not used. This improved utilisation is expected to realise savings of $300 million over 10 years.

“With annual expenditure in excess of $2 billion, it’s critical that the Commonwealth property portfolio is managed in an efficient and effective manner,” Mr Coleman said.

“Very substantial improvements have already been made, capturing significant savings for taxpayers. The Government will continue to focus on driving further efficiencies across its property portfolio.”